china’s financial sectors’ growth slower in q4
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

China’s financial sectors’ growth slower in Q4

Arab Today, arab today

Arab Today, arab today China’s financial sectors’ growth slower in Q4

A woman rides past the headquarters of the People’s Bank of China
Beijing - Arab Today

Growth in China’s real estate and financial sector slowed in the fourth quarter of 2016, despite an uptick in the overall service sector that contributed to better-than-expected GDP growth in the quarter, National Bureau of Statistics (NBS) data showed on Saturday.
China reported on Friday that its economy expanded by 6.8 percent in the fourth quarter thanks to strong consumer spending and record bank lending to stimulate the economy, despite rising debt concerns.
A detailed breakdown in economic growth by industry issued by the NBS showed China’s red-hot property market, which accounts for about 15 percent of GDP, saw its growth slow to 7.7 percent in the fourth from 8.8 percent in the third quarter, adding to concerns that a cooling housing market would drag on economic growth.
It also highlighted a sharp slowdown in the financial sector, which decelerated from 5.8 percent growth in July-September to 3.8 percent in the fourth quarter.
Growth in the construction sector also slowed marginally in the fourth quarter to 5.9 percent from 6.0 percent in the third quarter, despite a rebound in market confidence with new housing starts unexpectedly rising 12.5 percent in December compared to a month ago.
But the overall services sector remained strong in the quarter, growing 8.3 percent compared to 7.6 percent in the third quarter.
“Other services” overtook the real estate sector to become the fastest growing segment of the economy, with growth of 10.6 percent in the fourth quarter, up from 8.8 percent in the third. “Other services” includes many consumer services such as media and education, but also scientific research, social services and utilities.
Growth in transportation, storage and postal services accelerated to 9.9 percent in the fourth quarter, compared to a 6.5 percent rise in the third quarter, Saturday’s data showed.
The retail and wholesale sector also improved marginally to 7.2 percent for October-December from 7.0 percent in the third quarter as China’s consumers kept spending.

Source: Arab News

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

china’s financial sectors’ growth slower in q4 china’s financial sectors’ growth slower in q4

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

china’s financial sectors’ growth slower in q4 china’s financial sectors’ growth slower in q4

 



GMT 15:46 2018 Wednesday ,12 December

Festive Fashion by Dubai-based designer ASMARAÏA

GMT 04:52 2014 Tuesday ,01 April

January 19 - February 17

GMT 14:33 2017 Tuesday ,09 May

‘A clear sign of hope to French Muslims’

GMT 04:16 2017 Monday ,02 October

Gulf states say goodbye

GMT 06:56 2017 Friday ,01 December

Minister stresses refusal to Benkiran

GMT 09:13 2018 Wednesday ,24 January

Rockets' juggernaut continues

GMT 06:47 2017 Saturday ,23 December

WHO thanks Cuba's support to face Ebola

GMT 08:41 2017 Monday ,11 December

Christian Louboutin releases

GMT 18:38 2011 Wednesday ,09 February

Nuclear sites tour to go ahead, says Iran

GMT 03:09 2017 Monday ,04 September

South Korea to accommodate rise in Muslim visitors

GMT 17:16 2014 Thursday ,06 March

Spicy Lingerie introduces new spring corsets line

GMT 12:23 2016 Wednesday ,09 March

US will 'act' if Iran missile tests confirmed:

GMT 19:35 2017 Wednesday ,16 August

MP warns of calls to amend constitution

GMT 08:29 2017 Wednesday ,30 August

Indonesia condemns North Korea's missile test
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday